International Paper to sell remaining Russian interests
IP will sell its remaining interest to its joint venture partners for $484 million, according to a statement from the Memphis-based company. Related coverage:
Rob Moore
There are 762 articles by Rob Moore :
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January 2023
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Transportation & Logistics Arvato Memphis focuses on logistics for medical device manufacturing
“As a logistics company, you have to have a footprint in Memphis.”
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City of Memphis Protesters block access to Ridgeway Police Station
One protester said local activists will keep protesting until all the officers involved in the events that lead to Tyre Nichols’ death have been identified.
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Transportation & Logistics FedEx to award small businesses more than $300,000
The 10 small businesses chosen by FedEx will win $30,000 and $1,000 in FedEx Office print credit.
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Business International Paper’s earnings beat expectations as the company turns 125
The Memphis-based company reported 2022 adjusted operating earnings of $1.2 billion, compared with the $944 million it recorded for 2021.
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February 2023
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Update
Financial ServicesFedEx to lay off 10% of officer and director teams
Following two back-to-back quarters that saw FedEx report earnings well below company expectations, the shipping giant has been enacting sweeping cost-cutting initiatives.
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Spirit of Memphis Students join rapper NLE Choppa ‘to skate for Tyre’
“I was just trying to turn a negative into a positive. That’s my main goal today.”
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Transportation & Logistics FedEx Freight to enact additional furloughs
In an email with The Daily Memphian on Friday, Feb. 3, a representative of FedEx confirmed the company is enacting these furloughs in addition to the ones announced in November 2022.
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Business GM to invest $14 million in Memphis parts center
General Motors’ Memphis Parts Distribution Center, which was opened in 1999, ships 331,700 orders per month and employs 259 people.
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Premium
Transportation & LogisticsHow FedEx is cutting costs by more than $3 billion
FedEx confirmed during the company’s December 2022 earnings release that it will try to cut costs by more than $3 billion throughout the fiscal year.
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Update
Public SafetyTBI confirms officer in critical condition after East Memphis shooting
A heavy police presence was spotted at the White Station Poplar Library around 12:30 p.m. on Thursday, Feb. 2.
TBI confirms officer in critical condition after East Memphis shooting
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Transportation & Logistics FedEx delivers Vince Lombardi Trophy ahead of Super Bowl LVII
A FedEx Express courier with 36 years of service delivered the trophy via a FedEx Express delivery van.
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Ford Megasite BlueOval City roads named for Ford’s 119-year history
Among the street names is Piquette Drive, a reference to the Piquette Plant in Detroit where the first Ford Model T was produced.
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Business Mueller Industries reports strongest fourth quarter on record
For the fourth quarter 2022, the industrial manufacturer reported $190.4 million, up more than 10% from the $172.1 million it reported for the same quarter in 2021.
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Premium
Transportation & LogisticsCould TDOT help secure a Memphis-to-Nashville Amtrak line?
Amtrak has proposed a new service that would connect Atlanta to Chattanooga and Nashville, but the Tennessee Department of Transportation could push for a Memphis-Nashville line.
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Financial Services First Horizon extends outside merger date with TD Bank
The transaction date has been moved from Feb. 27 to May 27, in accordance with the terms of the merger agreement.
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Business Sylvamo enters into cooperation agreement with its largest shareholder
The new cooperation agreement includes customary restrictions and voting commitments.
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Transportation & Logistics FedEx launches second year of HBCU Student Ambassador Program
The cohort was selected among students from eight HBCUs, which are regionally located within a short distance of a FedEx operating or distribution facility.
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Financial Services TD Bank plans community ‘impact’ after First Horizon merger
TD Bank’s agreement includes a commitment to open 25 new physical bank branches in marginalized communities and a pathway to enable affordable home ownership by increasing residential mortgage loans.
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Front Page FedEx commits more than $1 million to Turkey, Syria earthquake relief
Since the first earthquake on Monday, Feb. 6, FedEx has assisted multiple nonprofit and government organizations that are responding directly to the crisis by utilizing its global trade networks.
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Transportation & Logistics FedEx pilot union approves strike authorization vote
FedEx and the Air Line Pilots Association have been in contract negotiations since May 2021.
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Transportation & Logistics Traffic will travel in one lane on southbound I-55 until fall 2023
Upgrades to the Interstate 55 interchange at Crump Boulevard Downtown will be a multi-year project that will include road and bridge closures and the construction of a new roundabout.
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Transportation & Logistics Memphis International Airport receives $15M in FAA funding
The FAA announced Monday, Feb. 27, $967 million in funding for almost 100 airports in the U.S., including Memphis International.
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Business American Car Center closes all business operations
The used car lender said Friday, Feb. 24, in a company email reviewed by The Daily Memphian that all employees would be terminated at the end of the business day.
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Transportation & Logistics AutoZone reports solid quarter, increase in existing store sales
AutoZone reported second-quarter net sales of $3.7 billion, a more than 9% increase from the same period a year ago.
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